venerdì 21 marzo 2014

Cable Jolted By Fed Rate Risk

GBP/USD Open 1.6531 High 1.6655 Low 1.6506 Close 1.6528

On Wednesday Pound/Dollar decreased with almost 150 pips. The Cable depreciated from 1.6655 to 1.6506 yesterday, in line with the negative money flow sentiment at nearly -22%, closing the day at 1.6528. Today the British Pound is trading quietly, with movements at the lower end of yesterday’s range for the time being.

On the 1 hour chart the upward channel has turned into range trading, while on the 3 hour chart the upward channel is still on hold. First resistance is yesterday’s peak at 1.6655. Break above it should extend the bullish movement further towards 1.6770. The nearest support level is yesterday’s bottom at 1.6506. Going below it should extend British Pound’s reduction further down towards next downward objective 1.6394.

Today is UK CBI trends total orders, at 11 GMT.

Quotes are moving just below the 20 and 50 the EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and hesitant, MACD is negative and declining, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light short signals.

Technical resistance levels: 1.6655 1.6780 1.6912

Technical support levels: 1.6506 1.6394 1.6260

Already made +15 pips profit/loss on GBP/USD today from the following sent to clients only signal:

5:15 GMT Sell GBP/USD at 1.6541 SL 1.6567 TP 1.6481, exit sent at 7:07 GMT.

Today so far +53, yesterday +180, as shown ;here.

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